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Cinemark Credit Agreement
By Zach Arnold | April 8, 2021
and, from time to time, by the parent company, the terms of the agreements relating to convertible bond transactions, limited to (to the extent that limited payments are limited): (A) the purchase and sale by the parent company of Call Spread Hedges; (B) payments to derivative counterparties for risk call hedges; (C) capital and interest payments under convertible bonds; (D) payments made in the event of a necessary repurchase of convertible bonds or hedging calls; (E) payments made on each conversion by a convertible bondholder or during the exercise of advance call coverage; and (F) payments on or related to the exercise and settlement, termination or expiry of the appeal in advance; (a) binding obligation. This amendment of the waiver was duly executed and transmitted by each contracting party and constitutes a legal, valid and binding obligation of each of these parties to the credit, enforceable against each of these parties to the loan on its terms, unless the enforceable force may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws concerning the rights of creditors in general. , unless: , enforceable force may be limited by general principles of capital (regardless of whether such enforceable force is taken into account in a proceeding). in society or in law. Cinemark USA, Inc. completed senior secured credit agreement Under the terms of the ge-nderte and reputed senior secured credit facility of our wholly-owned subsidiary, Cinemark USA, Inc. (“Cinemark USA”), find (the “Credit Agreement”), when reevolving loans are outstanding under the Credit Agreement, Cinemark USA is required to maintain a consolidated net senior secured leverage ratio (as defined in the Credit Agreement) von not than 4.25 to 1.00. In April 2020, Cinemark USA obtained a waiver from the majority of renewable lenders under the loan agreement for the statutory quarters, which ended on September 30, 2020 and December 31, 2020. Cinemark USA intends to amend and reaffirm the existing waiver, in order (i) to extend the waiver of leverage until the quarter of activity ending September 30.
2021, (ii) for the control of the consolidated net leverage ratio for consolidated net leverage ratios at 31 Years ended December 1, 2021, March 31, 2022 and June 30, 2022 allow cinemark USA, Consolidated EBITDA (as defined in the credit agreement) for the first three quarters of 2019 activity instead of Consolidated EBITDA for the corresponding 2021 business quarters , (iii) amend the restrictions imposed by the waiver of Confederation and (iv) make further changes to allow the issuance of debt securities (as defined below) and related transactions. While the offer of notes (as defined below) depends on receiving the waiver change, Cinemark USA has obtained the necessary consents for such a waiver at the time of this amendment, which we hope will take effect after the closing of the note offer (and subject to that. NOW, THEREFORE, taking into account the premises and agreements, provisions and agreements that the parties agree to adopt for this purpose: – The credit contract has been amended to reduce the interest rate at which the maturity loan supports interest (d) limitation of the amendment.
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